Variables | With Constant | With Constant and Trend | ||||||
Lag Order | t-statistic | Critical Value | Lag Order | t-statistic | Critical Value | |||
1% Level | 5% Level | 1% Level | 5% Level | |||||
LNSX | 1 | −0.536000 | −2.574171 | −1.942089 | 1 | −1.486066 | −3.465200 | −2.919600 |
ΔLNSX | 1 | −2.331804** | −2.574208 | −1.942094 | 1 | −4.684712* | −3.465100 | −2.919800 |
LNCD | 1 | −1.720163 | −2.574171 | −1.942089 | 1 | −1.720236 | −3.465200 | −2.919600 |
ΔLNCD | 1 | −3.599346* | −2.574208 | −1.942094 | 1 | −6.512132* | −3.465100 | −2.919800 |
LNCP | 1 | −2.381825 | −2.574171 | −1.942089 | 1 | −2.429654 | −3.465200 | −2.919600 |
ΔLNCP | 1 | −11.84818* | −2.574208 | −1.942094 | 1 | −12.67868* | −3.465100 | −2.919800 |
LNCR | 1 | −2.160385 | −2.574171 | −1.942089 | 1 | −2.254017 | −3.465200 | −2.919600 |
ΔLNCR | 1 | −4.761738* | −2.574208 | −1.942094 | 1 | −8.251913* | −3.465100 | −2.919800 |
LNTBL | 1 | −1.718813 | −2.574171 | −1.942089 | 1 | −1.731301 | −3.465200 | −2.919600 |
ΔLNTBL | 1 | −8.068009* | −2.574208 | −1.942094 | 1 | −9.000464* | −3.465100 | −2.919800 |